Fife property boom as home sells for £200,000 over asking price

One north-east property was sold in just three days, while another had 13 offers on the table.

Property consultancy, Galbraith, said it had been “an outstanding quarter” with sales totalling £7.5m between June and the end of September

The company reported “intense competition between buyers” with the majority of properties attracting multiple offers above the asking price.

Dominic Wedderburn, head of residential agency for Fife said: “Since the spring there has been a huge increase in demand for rural property in almost every part of Scotland as many people relocate from towns and cities.

“In Fife this trend is very much in evidence and we are fortunate that we can also offer proximity to Edinburgh and St Andrews, two of Scotland’s most beautiful historic centres. You can live in a completely idyllic, quiet village and still be in Edinburgh in an hour and a quarter.”

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He added: “Prices in Fife are increasing, but rural property remains considerably less expensive than in St Andrews or Edinburgh itself - , another major advantage for buyers.”

In Fife over the past quarter 74 per cent of buyers came from within Scotland, with 21 per cent from the rest of the UK and about five per cent from overseas.

The average sale price for property marketed by the Galbraith office in Cupar this quarter was £395,000.

It is currently marketing a historic property in Anstruther at offers over £725,000 - the home dates from the 1600.

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